What is Professional Tax? View Tax Slab and Applicability

What is Professional Tax? Professional tax is a tax that a state government levies on any individual who earns income through any medium. Unlike the name suggests, it is not just for professionals but for...

Relaxation In Applicability of Accounting Standards Commencing From April 1, 2020.

Announcement by The Institute of Chartered Accountants of India Criteria for classification of Non-company entities for applicability of Accounting Standards. The Council, at its 400th meeting, held in March, 2021, considered the matter...

Cash deposited by a client in insurance agent’s bank account is mere remittance.

Ashish N. Vashi vs ITO Facts of the case The assessee is an insurance agent, he used to collect cash from various parties and deposit them into his bank account and out of...

No addition can be made in respect of completed assessments if no incriminating material is found during the course of search.

The DCIT Vs. M/s.Creative Trendz Pvt. Ltd. Facts of the case The assessee is a company engaged in the business of embroidery of cloth and job work. The assessee filed its Return of...

Lease Financing Model: Lease Financing as a Viable Business Option

Ever heard of businessmen exploring the idea of using an asset on a rental basis on account of a shortage of finance to buy the asset. In terms of finance, the term ‘Lease’ is defined...

Virtual CFO Services – A smart choice for newgen

What is Virtual CFO? Virtual CFO (or vCFO for short) stands for virtual Chief financial officer. A virtual CFO is an outsourced service provider offering high skill assistance in financial requirements of an organization, just like a chief financial...

What Are the Best Indian Stocks to Buy in 2020?

Let’s starts with an example. {Don’t be sentimental, please take it as an example only} When my grandfather went to the market to buy something, most of the FMCG products were available from Hindustan Unilever....

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